This is not capitalism, capitalism should reward efficiency and personal merits, not steal money form other people when you fail. Thats greed, senseless greed, the greed that might fuck up modern civilization-
The thing is the 50% windfall tax is not really that much more than the 40% top rate of tax here in the UK. Anything you earn over £37,400 you get taxed at 40% anyway. If you are getting over a £40,000 bonus then your salary is likely to be over £37,400 so you would be taxed at 40% anyway.
The extra 10% is a bit a bloody nose to the bankers but I;m sure they will cope. A 90% wind fall tax would have been more appropriate.
The banksters are criminals and are raping the economy rite in front of the american people... These tools in congress are all in it with the banksters.
Btw, only corporations can be liable for income tax. But you fall within that jurisdiction when you receive a income through your incorporated TRADE NAME.
50% bonus tax??? these people live and breathe money, they have cash for blood, they will find a loop hole. its time for the laws to be re-written - by us!
Since the banks are posting record profits yet needed "bailout money" to give their executives larger bonuses, twice, I would suggest that every American stop taking loans, cash in all of their stocks and stop depositing money into the bank and stop supporting them in any way. Fuck 'em!
The problem is that the 50% bonus tax is on all banks that give greater than £25,000 bonuses - which makes no sense, you punish the banks that took adequate risk management measures.
A tax on banks that took bailout money would be fair enough.
We cannot 'search' for a candidate. Presidential candidates are conveniently provided for us. we have a choice in nothing, but different faces. These guys are bought and paid for loooong before the election process even begins. Furthermore the powers that be, would never let a candidate into office who has the publics interest being foremost. Ron Paul was our best shot for a long time. It just wont happen...abolish fake money, and lobbies, set term limits in congress...and fucking revolt. Solved
What lesser evil? As far as I have seen Obama has failed to bring justice to the people by reforming wall street, failed to reform healthcare despite a house majority, failed to basically elimate all lobbyists (I don't know why they are still legal it's bribary), shit I don't know what he has done other than be a black role model.
Actually, there is a "fuck you" tax being proposed right now, but that's still not enough. IMO the tax on banks should be 100% until they all close. Fuck 'em!
As bad as it is, I'd be scared to see what Bush or McCain would have done. I don't know what it is, but I can tell you it would be more of a pat on the bank than a reprimand.
The problem at the root of this - &it applies in Britain too, though our govt is belatedly trying to fix it - is the way money was thrown at the banks in the first place. Not paying bonuses over such-and-such an amount should have been part of the deal before they got a penny. No bank would have dared say no, for two reasons: if they went under they'd have no jobs, & no bonus at all; & if they CHOSE to go under when the govt offered to save them, their customers would hunt them down & kill them.
Get out the pitchforks! We have to DEMAND that we follow suit. France has already said they're doing it too. I don't think any of these jokers will be moving to Dubai anytime soon. DO IT ALREADY Congress!!
100% kills any company cause profit means new development in their product. Like apple with the ipod. if the government took 100% of the profit then there would be no research in the ipod touch and iphone. You need profit to invest in your own company
ibtrippen said 100% of their bonuses, not profits. The whole discussion is about bonuses, though Cenk slipped and said "profits" at one point. There is no connection between individuals' bonuses and companies' reinvestment.
I dont know how it works in Britain but in the US the tax code is actually part of the law, not a policy. Obama would have to have a congressional rep present it as a bill. Its not a good time with all of the other legistlative priorities and it would meet with heavy resistence so he would have to really push the legislation at the same time he's trying to push higher priority legislation.
The first part of that is accurate. However, it is only news to you. Economist have been reporting for at least 17 years that second derivative add no value and are dangerous to the financial sector.
The problem with the clearing house plan is that it is not international. We need an international treaty and firms in member countries should be prohibited from trading with firms not party to the treaty directly or indirectly. Also, there should be a fixed reserve level for all securities.
I'd like to see blood. Really. I don't want to do it myself, but put me on the jury of anyone who shoots any of these mafioso dead and I'll acquit them on the grounds that it was an act of heroism.
Obama needs to show his pimp hand. Or alternatively ninja throwing stars, or just club the bankers like pinatas till money pops out. The credit card companies do it all to us!
What? You want Obama to show his pimp hand and beat the daylights out of all the banksters who helped get him elected by donating large amounts of cash to his campaign.
Since when is any leader of the FED respected?The FED is a bank!! DAAAHHHH..Oh ,yes George Soros is to be trusted.You gotta be kidding.Those fuckers cause the problem then come to the rescue.Anybody who believes this shit is a fucking dope.
I don't think these people are living in the real world.
They must seriously be disconnected from the world mentally because NOBODY just blows trillions of dollars and puts the entire global economy in danger unless there's something wrong with their head.
For one thing. Banks are paying back the TARP money. I'm still waiting the auto giants to pay back taxpayer money. Everyone loves hating on bankers and lawyers for no other reason than that they make more money than the average Joe. This is the same shit the communists did... hate on the wealthy.
@dbullet - Im sorry but it sounds like you dont know what you re talking about! 'People love to hate on bankers cause they make more money than the average joe...' yeah partly that, but mostly cos they caused a Global financial meltdown, which caused thousands upon thousands of people to lose their jobs. Not only that, they made huge bonuses from our money - which was taken from us and given to them for causing this mess! How many financial meltdowns have the auto industry caused?.... 0.
Not in our lifetime, but our lifetimes are short. With respect to the auto industry, start with "industrial sunset, the making of north america's rust belt". Besides, the banks are only providing competitive compensation. The three auto giants showed up to ask for bailout money in private jets, and they don't even plan on paying it back. It just destroys your credibility when u talk about financial instruments u dun understand. they are a tool... like a hammer, they're not bador good in themslvs
I know that what our bankers are doing isn't AS bad.
But screwing people out of their homes, conning our government, then using the money for bonuses and 100 million dollar carribean spa vacations while the homeless die in the cold is enough for some people to put them on the same level.
Don't tell a Russian that the communists are good. You're really starting down the wrong path. They were actually not bound to the land at this point in time.
Nobody was screwed out of their homes. You're assumming things in your arguments that are simply not true.
The Federal Reserve Act and Fractional Reserve Banking- the two biggest acts of treason ever committed against America. Bush silently raised the leverage from 10x to 40x and people have the nerve to wonder why those banks collapsed. The people have more power than we think. Denounce the perpetuated myth that you NEED to store your $ in a bank, they now can quadruple the borrowing amount of their deposits/assets from the Fed. Investor banks are notorious for this, hence, boom-bust-the bailout.
The England bankers parley' is getting the payback directed toward the companies paying the bonus and not the recipient. Then they spun the press to claim it was nothing more than political pandering close to elections. The latter is weak sauce but most lick it up. Redirection of taxes provides indirect shifting to their customers. This is an important lesson. It doesn't matter what country is screwing their population. Unless they directly jail or tax those involved, nothing changes.
I once heard Obama say something like "Now we have bailed wallstreet out, its time for wallstreet to help out the mainstreet"
Which makes me wonder, why didnt we just bail ourselves out in the 1st place (no wallstreet is very diff from mainstreet). I guess its more profitable to buy profitable banks and govt bonds with money provided to them at 0% interest.
What would we ever do without the genuises are the FED reserve?
Don't get me wrong, I'm not even trying to pretend that Republicans are better. I just think it's high time that we quit being partisan jerks and realize that it's our ENTIRE* government, not just Dems or Repubs.
*With a few notable exceptions. On the right-Ron Paul. On the left-Kucinich, maybe Grayson. Possibly Sanders as well, who's Indy.
No, I haven't read his writings, but I have heard his viewpoints on TV a lot. As far as I can tell, he is an Anarcho-Capitalist, and he wants further de-regulation of the economy.
How is that not idiotic?
I actually think he is quite an eloquent speaker and is very principled. I just think his ideas on economic policy, for the most part, are stupid.
I really can't give you a lesson in Austrian economics here on YouTube. But you might start, if you're actually interested, in reading his work on sound money.
If you do actually get into his philosophy, you'll find that it's all tied together, foreign policy, freedom, economics, etc. Not saying he's perfect, but he's certainly no idiot.
Usually though, people who write someone else off simply as an idiot, don't actually want too learn something or challenge themselves.
Austrian economics is a joke in this day and age. The entire country would have to be over-hauled for an economic model that is completely hypothetical, for it has never existed in the past and cannot exist in this day and age, by any means.
If Obama decided to get all "Austrian" at the beginning of his term, our economy would most likely be broken beyond possible repair right now. I'm a Keynesian and damn glad Obama is.
Just look at the last few decades and how it's worked out.
Well, I'll have to disagree with you on Keynesian economics because I am looking at the last few decades and how it's worked out. I believe it was Nixon who first declared that we are all Kenesians.
No one system is perfect, to say the least, but I'm certainly not fond of the Keynesian economic model.
I definitely agree with you that both systems are fundamentally flawed for different reasons. I just think the government should play an active but limited role in the economy to keep things in check.
There are many Keynesian policies I don't support, for they decimate competition. An example being mandates on Auto and Homeowner's insurance and artificially low interest rates implemented by the Fed, etc.
So don't get me wrong, I definitely see where you're coming from.
Cool. We'll just agree to disagree. I don't have any issue with that, but I just think it's wrong to dismiss someone as an idiot because they have a different opinion than yours on economics.
He's been studying economics for over 30 years, most "idiots" would never even contemplate such a thing, much less have strong opinions on it. At the very least, he certainly understands the flaws of Keynesianism.
He's a purist on government intervention, and there's good/bad to that, just like anything.
Yeah, I agree. I shouldn't have called him an idiot. When considering his expertise compared to me as a 19 year-old with a low education, it only makes me look like the idiot.
I agree with him on a lot of things anyway, and I feel he is one of the few "real" politicians in Congress.
I've just been getting very angry lately with the direction the Obama Administration is taking. The bitterness seeps out of me everywhere.
@Florida--you're miles ahead most people in being able to admit a mistake. :)
On him being a "real politician", agreed. Some staunch libertarians may disagree with me, but I admire Kucinich's sincerity quite a bit too. I think that most reasonable people who voted for O and are paying attention are angry. Pay no heed to the "I told you so" crowd, as they likely voted for Bush.
Stick to principles and look at all sides. It'll disturb you, but you will be closer to the truth than most. :)
I used to believeall the myth about de-regulation till i realized all the so called corporation that would benefit from the de-regulation are not supporting this guy. It just doesnt add up
Self regulation works but cannot work in the US where govt keeps on intervening with tax payers dough.
"Self-Regulation" only works in an economy that has perfect equilibrium, which can't exist in this day and age. It's unteniable, which is why I'm not in favor of it.
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I have a better idea. how about the taxpayers also get back the hundreds and hundreds and hundreds of millions of dollars that those filthy democrats just couldn't wait to spend once Obamba took office.
all that money wasted by dirty dems on their liberal scum friends and all those completely stupid, useless, inane pet projects and payoffs to their corrupt political allies.
filthy greedy democrats, guilty as charged, bunch of SCUM
So that noone gets me completely wrong: I'm a paying member of TYT. I get that the majority of americans aren't dumbfucks that needs to be locked up, and i'm a huge beleiver in the fight TYT is fighting. I've talked to so many good people in the comments here.
My temp solution to the problems of the rest of the world is to get tough on America. We pay the prize of incompetent and corrupt american politicians as well you know.
Sitting in a country that's very well run compared to the US, i'm sick and tired of having to deal with this bullshit.
We, the rest of the world, needs to find a way of breaking the ties with the US. We need for the US to be treated like it's acting. Noone in their right mind would tget to close to any of the other corrupt regimes out there.
The US doesn't want to do something about the cliamte? They don't want to take any steps at all to try and make sure we don't end up in a new recession? Well that's fine. No close economical ties with the US, and with regards to climate: Tax US commodities.
We know that some sort of semi-boycut is the way to go. The US does it to countries with nutcase leaders, and so do we.
As stated in the beginning: You wont get anywhere trying to make me out to be a hater. I'm not. I am super frustrated by the fact that noone in the US gets away with trying to better thngs. I know why, corruption. The good people of the US deserves better than what they're getting. Since americans don't have the power to change things, we, the rest of the world, should do it. Treat the US like it acts. That'll do it.
It wont happen though. Our leaders don't have the balls for it either.
When Eisenhower was President, the top marginal rate was 90%, and the economy was great. We should go back to that for any income over $1 million per year. Many problems would be solved.
Like the banks won't find ways to evade the 50% tax LOL Cenk don't be naive, this is all a practical joke Darling is playing on the plebs, don't think it's any better in Britain...
So does this mean that freebooting Goldman Sachs could be the de facto regulator of the carbon market?
As the global warming bubble inflates and then bursts, will Goldman Sachs self-regulate all the way to the bank making record profits at the expense and misery of taxpayers and consumers
Not all the banks would have went under. JP Morgan didn't have to but was FORCED because the Treasury didn't want banks to appear weaker or stronger. They were afraid people would take their money out in mass from like Bank of America and go straight to JP Morgan and other non-Tarp banks.
Can you hear the hue and cry from the business media machine. The cries of anti-capitalism when Obama put caps on bonuses for Cos. that received TARP/TALF money were like so loud and so ridiculous.
The politicians are owned by the banks in UK too. Dont think because our chancellor taxed bonuses 50% that he wont take it off of the tax payer in stealth taxes over the coming years! They shouldnt get any bonuses! any bonuses! why should they get bonuses? for good behaviour? cant wait for the revolution.
I m thinking why doesn t someone come up with a list of all the bad banks that screwed us over, and then get all the homeowners to refuse to pay their loans to them, or to agree to only pay a chunk, say 70%. Only evil banks would be punished, of course, but imagine this type of civil disobedience en masse for pushing for reform. All 'protesters' would chip into a fund, to make sure that nobody facing prosecution or being directly targeted by lawyers would go to jail or lose their home.
they take bonuses as a reward for destroying the economy.thats the nwo plan and the filthy bankers agreed to do it if you pay them, and they pay them with our own money covered as bonuses to destroy the economy, that's madness.
duck for cover everyone, this lardhead liberal SCUM is gonna start explaining how the economy really works again.
young turk is such an economic and financial genius isn't he? I mean it's not like he sits in a cardboard box on youtube running a failure of a show on a nonexistent budget.
Agreed, Being the CEO of a bank is not a real Job, it is a criminal scandal...Where is the government regulation? If people were not such selfish pricks, we wouldnt need the regulation, but obviously people need to be forced not to destroy the national economy
Just wait until the elections of 2010. The Labour government is very unpopular. They are now the third party in the polls, which is spectacularly bad. So don't think these policies are Europe's favourite. Right wing parties all over Western Europe are absolute leaders in the polls, and we should expect major shifts in power in Europe. I am starting to wonder whether we should have just let the banks fail, get the rotten apples out of the bag etc.
Not quite. There are some hateful people on the right in Europe. Maybe when it comes to Economic policy they are center left bu they can be just as twisted in the head.
the UK just passed a law for capital gains that allowed a large portion of the compensation packages to be taken back as taxes. this will not happen in the US because we have the shittiest representative democracy ever.
This is pathetic. We have as much power over this country as our pets do. We already have the leash, and with patriot act, well have our muzzle. Just fucking wonderful.
They are going to hijack that too, and all those people behind Enron and the mortgage crisis are going to start jacking the price of energy, and they will use your pension fund to do it.
Salaries and bonuses are two faces of the same coin, and the coin is employment income. It is employment income that is taxed. Consequently, there is no tax benefit to receiving bonuses instead of salary. If that were not so, why not take all your income in bonuses?
Bonuses are ad hoc and a flexible means of payment, though, and lend themselves to exploitation in times of crisis when money can be used very profitably by an insider. Also, an insider has a much higher buying price at these times, if there isn't any legislation to reduce the efficiency of this sort of transaction.
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brandeholdh 3 months ago
Bernie Sanders for President!
JImmy4336 7 months ago
@PainterofYou Yup that's the short answer.
Richardisdorky 1 year ago
Oh, oh I know. Give them huge tax brakes and tell the people at the bottom that if they don't they'll lose their jobs.
Richardisdorky 1 year ago
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tiblon1 1 year ago
Pst, hey, America.
Your founding fathers are rolling in their graves.
MansonFreak 1 year ago
subscribe to me for a subscribe back!
alexkwilliams 1 year ago
gd this guy again
natdavi 1 year ago
for some reason...... this video gave me the craving for peanuts >.>
Stitch1219 2 years ago 2
This is not capitalism, capitalism should reward efficiency and personal merits, not steal money form other people when you fail. Thats greed, senseless greed, the greed that might fuck up modern civilization-
Alecal89 2 years ago
The thing is the 50% windfall tax is not really that much more than the 40% top rate of tax here in the UK. Anything you earn over £37,400 you get taxed at 40% anyway. If you are getting over a £40,000 bonus then your salary is likely to be over £37,400 so you would be taxed at 40% anyway.
The extra 10% is a bit a bloody nose to the bankers but I;m sure they will cope. A 90% wind fall tax would have been more appropriate.
evilreligion 2 years ago
'you say you want a revolution...weell, you know...'
Riverwidow64 2 years ago
Despite Obama promising change in Washington, all I see now is more of the same.
DeltaLimaNiner 2 years ago 2
I see change... communism instead of fascism, although the two of them are more alike than most people know.
shred5 2 years ago
really and how so?
that is not backed up by the historical fact.
No fascist of the 20th showed any love of communism
norvman 2 years ago
The banksters are criminals and are raping the economy rite in front of the american people... These tools in congress are all in it with the banksters.
elvgero15 2 years ago 2
Btw, only corporations can be liable for income tax. But you fall within that jurisdiction when you receive a income through your incorporated TRADE NAME.
qui3tude 2 years ago
50% bonus tax??? these people live and breathe money, they have cash for blood, they will find a loop hole. its time for the laws to be re-written - by us!
trje246 2 years ago
Amen!
elvgero15 2 years ago
I'm with you...
if the Banks own the country lock, Stock, and Politican...
then we have a Right as Americans to FORCEFULLY take back what is right fully ours
it's time for a revolution it's time to start by Forcefully shutting down the banks from our end...
we did the Vote and Politics thing and look what that got us...
norvman 2 years ago 2
Since the banks are posting record profits yet needed "bailout money" to give their executives larger bonuses, twice, I would suggest that every American stop taking loans, cash in all of their stocks and stop depositing money into the bank and stop supporting them in any way. Fuck 'em!
shred5 2 years ago 2
12,345 views
-giggle-
Estrodile 2 years ago
The problem is that the 50% bonus tax is on all banks that give greater than £25,000 bonuses - which makes no sense, you punish the banks that took adequate risk management measures.
A tax on banks that took bailout money would be fair enough.
Luxmans 2 years ago
he needs to get rid of those fucking annoying noises.
Rosky12 2 years ago
We need to start searching for a candidate to take on Obama in 2012. These things take time, and the quicker we start the process the better.
sonyavsystem 2 years ago
We cannot 'search' for a candidate. Presidential candidates are conveniently provided for us. we have a choice in nothing, but different faces. These guys are bought and paid for loooong before the election process even begins. Furthermore the powers that be, would never let a candidate into office who has the publics interest being foremost. Ron Paul was our best shot for a long time. It just wont happen...abolish fake money, and lobbies, set term limits in congress...and fucking revolt. Solved
XhosStyleX 2 years ago 3
I don't understand how anyone could bring themselves to vote in America, it's always between a Giant Douche and a Turd Sandwich.
Clembo 2 years ago 4
It's mass tactical voting for the lesser evil.
1981Marcus 2 years ago
What lesser evil? As far as I have seen Obama has failed to bring justice to the people by reforming wall street, failed to reform healthcare despite a house majority, failed to basically elimate all lobbyists (I don't know why they are still legal it's bribary), shit I don't know what he has done other than be a black role model.
Clembo 2 years ago 4
Oh, come on. The Dems may be useless but the Republicans are destructive maniacs who would have started a world war by now.
1981Marcus 2 years ago 2
Actually, there is a "fuck you" tax being proposed right now, but that's still not enough. IMO the tax on banks should be 100% until they all close. Fuck 'em!
As bad as it is, I'd be scared to see what Bush or McCain would have done. I don't know what it is, but I can tell you it would be more of a pat on the bank than a reprimand.
shred5 2 years ago 3
God forbid if the Obama administration ever grew some cojones. What a bunch of sell outs.
perpetual159 2 years ago 4
Ways to get taxpayer money back from bankers - wait for them to pay it back, which they have already started doing (with the exception of citigroup).
There should be a segment on how to get back taxpayer money from auto giants, which might actually prove to be more difficult.
I love most people that talk about derivatives don't actually know anything about how they work.
dbullet 2 years ago 2
why the hell are all comments on all TYT vids repeted dozens of times,
jedaaa 2 years ago
sad story
dior1985 2 years ago
I dream at night of them never giving those bailouts and all of the (big) banks collapsing.
jotunobsidianeyes 2 years ago 2
The problem at the root of this - &it applies in Britain too, though our govt is belatedly trying to fix it - is the way money was thrown at the banks in the first place. Not paying bonuses over such-and-such an amount should have been part of the deal before they got a penny. No bank would have dared say no, for two reasons: if they went under they'd have no jobs, & no bonus at all; & if they CHOSE to go under when the govt offered to save them, their customers would hunt them down & kill them.
1981Marcus 2 years ago 2
lmao ur a hoe
123MCMG 2 years ago
There seems to be a root problem here, and I want everyone to start asking this question everywhere. It's very simple:
I need someone to explain to me why Lobbying is legal.
chenalos 2 years ago 4
Because the guy's making the laws are getting the free vacations.
Tatchko 2 years ago
i agree, esp in the form of campaign donations and gifts etc. its just blatant bribery and corruption
queenboxi 2 years ago
Because the guys making the laws are the same ones getting paid.
MrTommyjackson 2 years ago 3
TIMMY!!!
pawqmasta00 2 years ago
Get out the pitchforks! We have to DEMAND that we follow suit. France has already said they're doing it too. I don't think any of these jokers will be moving to Dubai anytime soon. DO IT ALREADY Congress!!
GrownupPhan 2 years ago 4
But, if they're making "profits" by taking from the treasury, shouldn't they pay 100% of their bonuses rather than 50%?
ibtrippen 2 years ago
100% kills any company cause profit means new development in their product. Like apple with the ipod. if the government took 100% of the profit then there would be no research in the ipod touch and iphone. You need profit to invest in your own company
robinvan1983 2 years ago
ibtrippen said 100% of their bonuses, not profits. The whole discussion is about bonuses, though Cenk slipped and said "profits" at one point. There is no connection between individuals' bonuses and companies' reinvestment.
1981Marcus 2 years ago 2
Thank you, Marcus.
ibtrippen 2 years ago
Naked CDSs ought to be banned. But not all kinds of CDS.
Palearch 2 years ago
I dont know how it works in Britain but in the US the tax code is actually part of the law, not a policy. Obama would have to have a congressional rep present it as a bill. Its not a good time with all of the other legistlative priorities and it would meet with heavy resistence so he would have to really push the legislation at the same time he's trying to push higher priority legislation.
schmokay 2 years ago
The first part of that is accurate. However, it is only news to you. Economist have been reporting for at least 17 years that second derivative add no value and are dangerous to the financial sector.
The problem with the clearing house plan is that it is not international. We need an international treaty and firms in member countries should be prohibited from trading with firms not party to the treaty directly or indirectly. Also, there should be a fixed reserve level for all securities.
schmokay 2 years ago
Gross.
TheGiantRobot 2 years ago
I'd like to see blood. Really. I don't want to do it myself, but put me on the jury of anyone who shoots any of these mafioso dead and I'll acquit them on the grounds that it was an act of heroism.
TheGiantRobot 2 years ago 3
fuck the FEDs takin ppls medical marijuana where its legal
123MCMG 2 years ago 2
Thats gov for ya
tommypickles09 2 years ago
I just can't believe refuse to do the right thing. They are disgusting people who cannot control their greed.
dirtynas 2 years ago
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bossesboss1 2 years ago
man i chose the wrong profession. Why study engineering when I could be stealing millions from you all.
kirby7979 2 years ago 4
I second that!
LOL!
norvman 2 years ago
Obama needs to show his pimp hand. Or alternatively ninja throwing stars, or just club the bankers like pinatas till money pops out. The credit card companies do it all to us!
squreshi10 2 years ago 3
What? You want Obama to show his pimp hand and beat the daylights out of all the banksters who helped get him elected by donating large amounts of cash to his campaign.
xxdonaldqxx 2 years ago
Since when is any leader of the FED respected?The FED is a bank!! DAAAHHHH..Oh ,yes George Soros is to be trusted.You gotta be kidding.Those fuckers cause the problem then come to the rescue.Anybody who believes this shit is a fucking dope.
xxdonaldqxx 2 years ago
we don't even have a constitution
jopaddy81 2 years ago
To bad you don't because we do have a constitution and we better start depending on it instead of the corrupt bastards in Washington D.C.
xxdonaldqxx 2 years ago
we are brits, we don't take nonsense for breakfast
jopaddy81 2 years ago 4
NWO gameplan.
PatriotReport 2 years ago
We are doomed.
swordjones 2 years ago
Yes...the banks have bought the politicians. Nothing new or revealing there.
Mxyzptlk562 2 years ago 3
holy shit Cenk watches South Park? 2:42
gurragreat 2 years ago
Ahhh yeah
suroj 2 years ago
the banks have been controlling politicians everywhere since both have co-existed
Its just a hard fact of life we have to accept
CheapBeer09 2 years ago
We don't have to accept anything. Stand up and make a change coward.
PatriotReport 2 years ago
urge to move to Europe rising....
inthedark45 2 years ago 4
Agreed!
IFloridaMotocrossI 2 years ago
@inthedark45 For me it's Korea, but the sentiment remains: must... immigrate...
roboticxcupcake 2 years ago
Dear treasury apartment,
you're not in kindergarten anymore.
Grow some balls.
gayerthankali 2 years ago
@gayerthankali I would love to live in a treasury apartment. Sounds fancy
regginscanjump 2 years ago
I know. I think I would too.
I don't think these people are living in the real world.
They must seriously be disconnected from the world mentally because NOBODY just blows trillions of dollars and puts the entire global economy in danger unless there's something wrong with their head.
gayerthankali 2 years ago
For one thing. Banks are paying back the TARP money. I'm still waiting the auto giants to pay back taxpayer money. Everyone loves hating on bankers and lawyers for no other reason than that they make more money than the average Joe. This is the same shit the communists did... hate on the wealthy.
dbullet 2 years ago
@dbullet - Im sorry but it sounds like you dont know what you re talking about! 'People love to hate on bankers cause they make more money than the average joe...' yeah partly that, but mostly cos they caused a Global financial meltdown, which caused thousands upon thousands of people to lose their jobs. Not only that, they made huge bonuses from our money - which was taken from us and given to them for causing this mess! How many financial meltdowns have the auto industry caused?.... 0.
dagorian86 2 years ago 2
Not in our lifetime, but our lifetimes are short. With respect to the auto industry, start with "industrial sunset, the making of north america's rust belt". Besides, the banks are only providing competitive compensation. The three auto giants showed up to ask for bailout money in private jets, and they don't even plan on paying it back. It just destroys your credibility when u talk about financial instruments u dun understand. they are a tool... like a hammer, they're not bador good in themslvs
dbullet 2 years ago
The communists had a right to hate the wealthy.
They were abused by the upper classes and treated like cattle. They were bound to the land and had no rights.
They could be killed off for no reason with no reprecussion.
It doesn't excuse the brutality under Stalin, but you can't criticize the hate they had for their slavemasters.
dffykvn 2 years ago
I know that what our bankers are doing isn't AS bad.
But screwing people out of their homes, conning our government, then using the money for bonuses and 100 million dollar carribean spa vacations while the homeless die in the cold is enough for some people to put them on the same level.
dffykvn 2 years ago 3
Don't tell a Russian that the communists are good. You're really starting down the wrong path. They were actually not bound to the land at this point in time.
Nobody was screwed out of their homes. You're assumming things in your arguments that are simply not true.
dbullet 2 years ago
This guy doens't know what he is talking about.
dbullet 2 years ago
There's no government any more. Just big banks and corporations.
blackkakari 2 years ago 12
The Federal Reserve Act and Fractional Reserve Banking- the two biggest acts of treason ever committed against America. Bush silently raised the leverage from 10x to 40x and people have the nerve to wonder why those banks collapsed. The people have more power than we think. Denounce the perpetuated myth that you NEED to store your $ in a bank, they now can quadruple the borrowing amount of their deposits/assets from the Fed. Investor banks are notorious for this, hence, boom-bust-the bailout.
beatsbytheory 2 years ago 2
i love how cenk says "dollars" best accent ever <3
shruberz 2 years ago
It's the corrupt jews that screwed us.
7d7e7f7 2 years ago
please its just as much wasps and catholic as jews, youre just looking for a scapegoat.
naliuj 2 years ago
The England bankers parley' is getting the payback directed toward the companies paying the bonus and not the recipient. Then they spun the press to claim it was nothing more than political pandering close to elections. The latter is weak sauce but most lick it up. Redirection of taxes provides indirect shifting to their customers. This is an important lesson. It doesn't matter what country is screwing their population. Unless they directly jail or tax those involved, nothing changes.
imataxslave 2 years ago
BOW YOUR HEADS
-cenk
Pelonetillo 2 years ago
Taxpayer loans the bank
bank HAS TO PAY IT BACK!!!!
= Alister Darling win
AllyKaht 2 years ago 2
I once heard Obama say something like "Now we have bailed wallstreet out, its time for wallstreet to help out the mainstreet"
Which makes me wonder, why didnt we just bail ourselves out in the 1st place (no wallstreet is very diff from mainstreet). I guess its more profitable to buy profitable banks and govt bonds with money provided to them at 0% interest.
What would we ever do without the genuises are the FED reserve?
uche007us 2 years ago
You're not supposed to ask those kinds of questions. But I'm glad there are people like you who do.
neoromeo 2 years ago
Gold price proves the US Federal Reserve is counterfeiting paper currency.
US currency should be as good as gold equal as capital.
Since 1971 world governments have been co-operating with the fraud.
US Fed Note has a future value of 0 the world leaders know this. Subversion of the US constitution.
boots920 2 years ago
Guess what else Obama is doing?
He's promoting that the Fed get MORE power!
Don't get me wrong, I'm not even trying to pretend that Republicans are better. I just think it's high time that we quit being partisan jerks and realize that it's our ENTIRE* government, not just Dems or Repubs.
*With a few notable exceptions. On the right-Ron Paul. On the left-Kucinich, maybe Grayson. Possibly Sanders as well, who's Indy.
Amy31415 2 years ago
Ron Paul may be well-intentioned, but he's an idiot.
IFloridaMotocrossI 2 years ago
You obviously have read his writings on freedom, the economy, the Constitution, etc.
He's not the most eloquent speaker in the world, but he is a very intelligent and principled guy.
Amy31415 2 years ago
No, I haven't read his writings, but I have heard his viewpoints on TV a lot. As far as I can tell, he is an Anarcho-Capitalist, and he wants further de-regulation of the economy.
How is that not idiotic?
I actually think he is quite an eloquent speaker and is very principled. I just think his ideas on economic policy, for the most part, are stupid.
IFloridaMotocrossI 2 years ago
I really can't give you a lesson in Austrian economics here on YouTube. But you might start, if you're actually interested, in reading his work on sound money.
If you do actually get into his philosophy, you'll find that it's all tied together, foreign policy, freedom, economics, etc. Not saying he's perfect, but he's certainly no idiot.
Usually though, people who write someone else off simply as an idiot, don't actually want too learn something or challenge themselves.
Good luck Florida.
Amy31415 2 years ago
Austrian economics is a joke in this day and age. The entire country would have to be over-hauled for an economic model that is completely hypothetical, for it has never existed in the past and cannot exist in this day and age, by any means.
If Obama decided to get all "Austrian" at the beginning of his term, our economy would most likely be broken beyond possible repair right now. I'm a Keynesian and damn glad Obama is.
Just look at the last few decades and how it's worked out.
IFloridaMotocrossI 2 years ago
Well, I'll have to disagree with you on Keynesian economics because I am looking at the last few decades and how it's worked out. I believe it was Nixon who first declared that we are all Kenesians.
No one system is perfect, to say the least, but I'm certainly not fond of the Keynesian economic model.
Amy31415 2 years ago
I definitely agree with you that both systems are fundamentally flawed for different reasons. I just think the government should play an active but limited role in the economy to keep things in check.
There are many Keynesian policies I don't support, for they decimate competition. An example being mandates on Auto and Homeowner's insurance and artificially low interest rates implemented by the Fed, etc.
So don't get me wrong, I definitely see where you're coming from.
IFloridaMotocrossI 2 years ago
Cool. We'll just agree to disagree. I don't have any issue with that, but I just think it's wrong to dismiss someone as an idiot because they have a different opinion than yours on economics.
He's been studying economics for over 30 years, most "idiots" would never even contemplate such a thing, much less have strong opinions on it. At the very least, he certainly understands the flaws of Keynesianism.
He's a purist on government intervention, and there's good/bad to that, just like anything.
Amy31415 2 years ago
@Amy31415
Yeah, I agree. I shouldn't have called him an idiot. When considering his expertise compared to me as a 19 year-old with a low education, it only makes me look like the idiot.
I agree with him on a lot of things anyway, and I feel he is one of the few "real" politicians in Congress.
I've just been getting very angry lately with the direction the Obama Administration is taking. The bitterness seeps out of me everywhere.
IFloridaMotocrossI 2 years ago
@Florida--you're miles ahead most people in being able to admit a mistake. :)
On him being a "real politician", agreed. Some staunch libertarians may disagree with me, but I admire Kucinich's sincerity quite a bit too. I think that most reasonable people who voted for O and are paying attention are angry. Pay no heed to the "I told you so" crowd, as they likely voted for Bush.
Stick to principles and look at all sides. It'll disturb you, but you will be closer to the truth than most. :)
Amy31415 2 years ago
I used to believeall the myth about de-regulation till i realized all the so called corporation that would benefit from the de-regulation are not supporting this guy. It just doesnt add up
Self regulation works but cannot work in the US where govt keeps on intervening with tax payers dough.
uche007us 2 years ago
"Self-Regulation" only works in an economy that has perfect equilibrium, which can't exist in this day and age. It's unteniable, which is why I'm not in favor of it.
The whole thesis is hypothetical.
IFloridaMotocrossI 2 years ago
how so
gfudge76 2 years ago
Exactly.... Bought and paid!!!!
cplum72 2 years ago
It's really hard to f**k with uber-rich people in a world run by money.
bototheone1 2 years ago 2
@bototheone1
Bullets dont discriminate, neither does a noose.
tommysch 2 years ago
This comment has received too many negative votes show
I have a better idea. how about the taxpayers also get back the hundreds and hundreds and hundreds of millions of dollars that those filthy democrats just couldn't wait to spend once Obamba took office.
all that money wasted by dirty dems on their liberal scum friends and all those completely stupid, useless, inane pet projects and payoffs to their corrupt political allies.
filthy greedy democrats, guilty as charged, bunch of SCUM
friction00815 2 years ago
Greed? Capitalism? How could you not have one without the other?
VGHierophant 2 years ago
Does it make sense to stay in a currency where such foolish descisions are made? And this is only the tip of the iceberg.
Get your money OUT OF US DOLLARS NOW!
judoyodan 2 years ago
Agree you should get your money off the dollar, but please please dont buy gold from Glenn Beck sponsors, they are sold at 30-40% above market price
uche007us 2 years ago
Goldline is a rip-off.
I get my metals(silver mostly) from Monex and NWTM.
judoyodan 2 years ago
Why the fuck do they need that much money!?.
ArchArturo 2 years ago
To waste, to spend on shit they don't need like mansions, and pools, and a bitchload of jacuzzis.
re619 2 years ago
So that noone gets me completely wrong: I'm a paying member of TYT. I get that the majority of americans aren't dumbfucks that needs to be locked up, and i'm a huge beleiver in the fight TYT is fighting. I've talked to so many good people in the comments here.
My temp solution to the problems of the rest of the world is to get tough on America. We pay the prize of incompetent and corrupt american politicians as well you know.
jo05dk 2 years ago 2
Sitting in a country that's very well run compared to the US, i'm sick and tired of having to deal with this bullshit.
We, the rest of the world, needs to find a way of breaking the ties with the US. We need for the US to be treated like it's acting. Noone in their right mind would tget to close to any of the other corrupt regimes out there.
jo05dk 2 years ago
The US doesn't want to do something about the cliamte? They don't want to take any steps at all to try and make sure we don't end up in a new recession? Well that's fine. No close economical ties with the US, and with regards to climate: Tax US commodities.
We know that some sort of semi-boycut is the way to go. The US does it to countries with nutcase leaders, and so do we.
jo05dk 2 years ago
As stated in the beginning: You wont get anywhere trying to make me out to be a hater. I'm not. I am super frustrated by the fact that noone in the US gets away with trying to better thngs. I know why, corruption. The good people of the US deserves better than what they're getting. Since americans don't have the power to change things, we, the rest of the world, should do it. Treat the US like it acts. That'll do it.
It wont happen though. Our leaders don't have the balls for it either.
jo05dk 2 years ago 2
When Eisenhower was President, the top marginal rate was 90%, and the economy was great. We should go back to that for any income over $1 million per year. Many problems would be solved.
cybold2 2 years ago 2
Like the banks won't find ways to evade the 50% tax LOL Cenk don't be naive, this is all a practical joke Darling is playing on the plebs, don't think it's any better in Britain...
videobeat09 2 years ago
atleast its better than if the tories were in power! lol
BGDPPL 2 years ago
Goldman Sachs to be carbon regulator?
So does this mean that freebooting Goldman Sachs could be the de facto regulator of the carbon market?
As the global warming bubble inflates and then bursts, will Goldman Sachs self-regulate all the way to the bank making record profits at the expense and misery of taxpayers and consumers
RomeoMD25 2 years ago
Not all the banks would have went under. JP Morgan didn't have to but was FORCED because the Treasury didn't want banks to appear weaker or stronger. They were afraid people would take their money out in mass from like Bank of America and go straight to JP Morgan and other non-Tarp banks.
Beambastic 2 years ago
Can you hear the hue and cry from the business media machine. The cries of anti-capitalism when Obama put caps on bonuses for Cos. that received TARP/TALF money were like so loud and so ridiculous.
But I agree just do it all ready.
ljss123 2 years ago
capitalism isn't great
Blakeasdf 2 years ago 3
The politicians are owned by the banks in UK too. Dont think because our chancellor taxed bonuses 50% that he wont take it off of the tax payer in stealth taxes over the coming years! They shouldnt get any bonuses! any bonuses! why should they get bonuses? for good behaviour? cant wait for the revolution.
troglodyte3344 2 years ago 2
Reaganomics = Thatchernomics
antifaith82 2 years ago 4
agreed
darksettler 2 years ago
It should be 100% of their bonuses, they failed, they are lucky to be getting their regular pay never mind any bonuses.
RedNProud 2 years ago 5
yeah, they are rewarding themselves for screwing it up for everyone.
10thAngel 2 years ago
End the FED! Abolish free market capitalism!
cerritoboy 2 years ago
I m thinking why doesn t someone come up with a list of all the bad banks that screwed us over, and then get all the homeowners to refuse to pay their loans to them, or to agree to only pay a chunk, say 70%. Only evil banks would be punished, of course, but imagine this type of civil disobedience en masse for pushing for reform. All 'protesters' would chip into a fund, to make sure that nobody facing prosecution or being directly targeted by lawyers would go to jail or lose their home.
jorgedug 2 years ago 2
That's way too much organization for the little man when the government is working with the banks.
OriginalBeast 2 years ago
fuck obama. fuck banks. and fuck america
browngom 2 years ago 6
Hear hear
Elmaln 2 years ago
Much props to Mr Volcker for pointing out that the emperor has no clothes.
jorgedug 2 years ago
they take bonuses as a reward for destroying the economy.thats the nwo plan and the filthy bankers agreed to do it if you pay them, and they pay them with our own money covered as bonuses to destroy the economy, that's madness.
theagrafiotis 2 years ago
timmyyyyy
lixueryo 2 years ago
What was that saying again?
It takes a crook to catch a crook?
It seems that the crook isn't willing to catch crooks so get rid of him.
NaomiClareNL 2 years ago
Please dont think the british system is Nivarana. That bonus tax is a set up for the next ellection.
roboldguard 2 years ago
This has been flagged as spam show
UH OH!
duck for cover everyone, this lardhead liberal SCUM is gonna start explaining how the economy really works again.
young turk is such an economic and financial genius isn't he? I mean it's not like he sits in a cardboard box on youtube running a failure of a show on a nonexistent budget.
another young turk EPIC FAIL
HAHAHAHAHAHA!!!!!!!!!!!!! you fucktard
friction00815 2 years ago
Keep trying, Friction. Maybe you'll be funny someday.
FourthDerivative 2 years ago
the guy is oblivious...
restlys 2 years ago
@friction:
So you prefer to just ben over and take it from your bankers?
Losing $180billiion and receiving $150million in bonuses is logical to you?
mad8london247 2 years ago
Great video, Cenk.
DieDulciFruere 2 years ago
we should have just let the banks fail
adoniscomplex 2 years ago
@adoniscomplex So what about everyone with their savings in banks? Let's just let those innocent people suffer as well should we?
rolandsquare 2 years ago
@adoniscomplex
Agreed, Being the CEO of a bank is not a real Job, it is a criminal scandal...Where is the government regulation? If people were not such selfish pricks, we wouldnt need the regulation, but obviously people need to be forced not to destroy the national economy
SupermarketsRevil 2 years ago 3
This is what happens when a society values money and greed over doing the right thing.
America has become a class society... All men are created equal has become a lie.
Joxman2k 2 years ago
fuk it thats it im running for some govt job and i is ganna steal rob rape and murder and get away with it muwahahahahaha
fu3ar25 2 years ago
don't forget that part of the way that england did this was because it is a near-totalitarian society.
stefminus 2 years ago
@stefminus LOL, I am in the UK, it is not perfect but nor is it totalitarian compared to the USA.
Fox news bays out inequalty and bigotry, your police and prisons are evil, you have the highest pre capita prison population in the world.
The UK has socialized health care, it is free for everybody.
We do not let vulnerable ppl die to keep corps in profit.
that is the mark of totalitarianism.
Ron Paul corp boss sucker.
marsCubed 2 years ago 2
@stefminus Uuuuh, evidence?
rolandsquare 2 years ago
Just wait until the elections of 2010. The Labour government is very unpopular. They are now the third party in the polls, which is spectacularly bad. So don't think these policies are Europe's favourite. Right wing parties all over Western Europe are absolute leaders in the polls, and we should expect major shifts in power in Europe. I am starting to wonder whether we should have just let the banks fail, get the rotten apples out of the bag etc.
Krifko 2 years ago
Europe's right wingers are America's left leaning democrats.
BusinessIDBAI 2 years ago
Not quite. There are some hateful people on the right in Europe. Maybe when it comes to Economic policy they are center left bu they can be just as twisted in the head.
thundavolt 2 years ago
@BusinessIDBAI That's the case in Australia and Most of Asia as well.
rolandsquare 2 years ago
the UK just passed a law for capital gains that allowed a large portion of the compensation packages to be taken back as taxes. this will not happen in the US because we have the shittiest representative democracy ever.
TheDuckofLaw 2 years ago 5
George Carlin was right. The banks have bought the politicians, giving citizens the "illusion of choice" when it comes to elections.
geodesicks 2 years ago 3
Become a politician and you can take all you want!
billeybop 2 years ago
This is pathetic. We have as much power over this country as our pets do. We already have the leash, and with patriot act, well have our muzzle. Just fucking wonderful.
affordnoshoes 2 years ago 2
Watch out for carbon credits trading.
They are going to hijack that too, and all those people behind Enron and the mortgage crisis are going to start jacking the price of energy, and they will use your pension fund to do it.
dangerouslytalented 2 years ago
Salaries and bonuses are two faces of the same coin, and the coin is employment income. It is employment income that is taxed. Consequently, there is no tax benefit to receiving bonuses instead of salary. If that were not so, why not take all your income in bonuses?
Only in Canada, you say?
Pity! ;)
forgetititititit 2 years ago
Bonuses are ad hoc and a flexible means of payment, though, and lend themselves to exploitation in times of crisis when money can be used very profitably by an insider. Also, an insider has a much higher buying price at these times, if there isn't any legislation to reduce the efficiency of this sort of transaction.
rajasmasala 2 years ago
It sounds like you are talking more of options.
Options are a totally different kettle of fish, I agree.
forgetititititit 2 years ago
No, I was talking about bonuses.
rajasmasala 2 years ago
That's not Charge! That's a mess call!
Hairysteed 2 years ago
Comment removed
glasshour76 2 years ago
Comment removed
glasshour76 2 years ago
Obama should be like Robin Hood. Take from the rich who screwed us over and give to tho